Silver futures end lower amid profit-booking
24/06/2014 09:08
Silver futures closed lower in the domestic market on Monday as investors and speculators booked profits in the precious metal at existing levels, after a stellar rally in recent sessions. However, a surge in US manufacturing activity in June and upbeat housing data raised bets that the US Federal Reserve may begin tightening monetary policy sooner than later, dimming the appeal of the bullion as a store of value. At the MCX, Silver futures for July 2014 contract closed at Rs. 44,445 per 1 kg, up by 0.28 per cent, after opening at Rs. 44,400, against the previous closing price of Rs. 44,570. It touched an intra-day high of Rs 44,629.
24/06/2014 09:08
Silver futures closed lower in the domestic market on Monday as investors and speculators booked profits in the precious metal at existing levels, after a stellar rally in recent sessions. However, a surge in US manufacturing activity in June and upbeat housing data raised bets that the US Federal Reserve may begin tightening monetary policy sooner than later, dimming the appeal of the bullion as a store of value. At the MCX, Silver futures for July 2014 contract closed at Rs. 44,445 per 1 kg, up by 0.28 per cent, after opening at Rs. 44,400, against the previous closing price of Rs. 44,570. It touched an intra-day high of Rs 44,629.
